Share Price Rise

Metals Exploration PLC
26 November 2004


FOR IMMEDIATE RELEASE                                            26 OCTOBER 2004



                     METALS EXPLORATION PLC (the 'Company')

                                SHARE PRICE RISE

The Directors of the Company note the significant rise in the Company's share
price over recent days. Whilst the Company is evaluating a number of investment
opportunities in line with its strategy stated in its recent Admission Document,
the Directors know of no reason for the share price rise at this time.



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